This is a depreciation recapture. However, if taxpayer instead sells the property for $1200, because his recomputed basis is $600, $400 of the gain is taxed as ordinary income and $200 is taxed at the more favorable capital gains tax rate.
The tuition charge is $10,088 while room and board is $8,270, books and supplies are $1,130 and other fees come in at $1,929. Residents of Virginia pay an annual total price of $21,417 to attend Virginia Tech on a full time basis.
Summary. When applying to Virginia Tech, it's important to note the application deadline is January 15, and the early decision deadline is November 1. Scores for either the ACT or SAT test are due January 28. The application fee at Virginia Tech is $60. It is more selective, with an acceptance rate of 72.6 percent.